In: Operations Management
10 points
QUESTION 9
True
False
10 points
QUESTION 10
The use of big data helps in marketing decision making because it keeps marketing information more “pure” by eliminating other business units from the marketing decision-making process. |
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Big data can help firms react to market conditions more quickly, leading to optimized pricing practices. |
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Data science has helped simplify promotional decisions because it has shown that simple promotions reaching large audiences work the best. |
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Real-time inventory management often helps marketers plan promotional campaigns that are more effective. |
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Big data has been useful in determining what other companies a firm should merge with to be a more effective marketer. |
10 points
QUESTION 11
The firm’s efforts in creating and placing television and print advertising |
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Creating content for and monitoring consumer actions on the firm’s social media platforms, such as Facebook and Twitter |
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Efforts of the firm to capture consumers no matter where they are |
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Ensuring that consumers can find the firm when they search for information on products and services |
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Creating display advertising, finding websites on which to place such advertising, and ensuring that inquiries made from such advertising are responded to properly. |
10 points
QUESTION 12
Customers acquired through word-of-mouth avenues are worth twice as much as are those attracted through other channels. |
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According to Intuit co-founder Scott Cook, “A brand is no longer what we tell the consumer it is—it is what consumers tell each other it is.” |
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Social interactions contribute to the retention of existing customers. |
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All of these factors correctly explain the importance of social media for marketers. |
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McKinsey and Company estimates that between 20% and 50% of all purchases are driven primarily by word-of-mouth recommendations. |
QUESTION 9= True or false: The top position on a search engine results website that attracts the most attention is also the most profitable position for a search advertisement.
Answer= True
Reason= As most of the viewers tend to visit the top websites on a search engine thus due to the high click rate, the advertisers find these websites profitable to publish their ads.
QUESTION 10 Which of the following choices is a way that big data and data science can help today’s marketer?
Answer=Big data can help firms react to market conditions more quickly, leading to optimized pricing practices.
Reason= Big data provides various valuable insights to the marketers and thus they can make prompt decisions.
QUESTION 11 After a few years of work in the marketing department of a small firm, you are placed in charge of the firm’s inbound marketing. What are you most likely to be in charge of?
Answer=Creating display advertising, finding websites on which to place such advertisements, and ensuring that inquiries made from such advertising are responded to properly
Reason= In the case of inbound advertising, the attention of the customers are attracted by content creation and responding to the queries of the customers.
QUESTION 12 Which of the following factors correctly explain(s) the importance of social media for marketers?
Answer=All of these factors correctly explain the importance of social media for marketers.
Reason= The significance of social media is increasing due to the interaction of customers about the different brands and their experience with these brands.